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Wednesday, October 28, 2020

Bridgegate Pictures Corp (OTCMKTS:BBGP) Continues to Trend Higher

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Bridgegate Pictures Corp (OTCMKTS:BBGP) is a stock that’s been ripping higher in an extremely orderly grind that has all the hallmarks of insider accumulation. The company just announced that principal photography for the sci-fi action thriller, THE RECALL, has completed in British Columbia, Canada.

The chart shows 56% during the past month in terms of shareholder gains in the stock. Market participants may want to pay attention to our coverage of this stock. BBGP has a track record that includes a number of dramatic bounces. Moreover, the listing has seen an influx in interest of late, with the stock’s recent average trading volume running approaching 720% over the long run average.

Bridgegate Pictures Corp (OTCMKTS:BBGP) operates as an integrated film company out of Corona, California.

The company engages in the development, financing and production of media products including feature films for worldwide distribution in the theatrical, broadcast and digital markets.

Bridgegate specializes in commercial driven independent films that are star driven and have worldwide appeal.

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The only recent news of note here is the note on the completion of photography for THE RECALL.

“I am thrilled to collaborate with the team from Bridgegate Pictures and VMI Worldwide to bring the script THE RECALL to life,” said Dewalt. “We couldn’t be more proud to work with a young cast and the talented Wesley Snipes to create a film that sci-fi audiences will be excited to see.”

Otherwise, the defining news that has been released on this company in recent months is news of a six motion picture partnership deal between BBGP, Minds Eye Entertainment, and VMI Worldwide. Together, the companies have financed and green lit a six-picture production slate of sci-fi, action and thriller films. Minds Eye Entertainment will distribute the films in North America, while VMI Worldwide will distribute the titles internationally.

The six films will also be shot for the new Barco Escape three-screen, panoramic theatrical format, which fully surrounds audiences and offers the ultimate immersive cinema experience. Portions of the films will also be shot in Virtual Reality through SkyVR. Kevin Dewalt, CEO of Minds Eye Entertainment, made the announcement at the 69th Cannes International Film Festival and is already in production on the first film. “Minds Eye Entertainment’s strength has always been to deliver exceptional production value with a talented cast at managed costs,” said Dewalt.

“It’s a natural progression for us to now finance and produce multiple pictures concurrently to manage budgets wisely without sacrificing first class crews and talented art departments across six films. We are delighted to partner with VMI led by Andre Relis and Bridgegate Pictures’ on this new venture.” The six-picture slate will be produced by Kevin Dewalt and Danielle Masters and will be executive produced by Guy Griffithe, Isabella Ragona , Andre Relis and Frank White. “We are honored to start this collaboration with such a prolific, accomplished producer as Kevin Dewalt,” said Andre Relis, president of VMI Worldwide.

“We believe this partnership with Kevin, who has a proven track record working with respectable talent in a variety of commercial and independent films, will only strengthen VMI’s continued growth, while delivering attractive, talent-driven projects to the international marketplace. We are confident this partnership with Minds Eye Entertainment will bring great success to both companies.”

“We are excited to have Minds Eye Entertainment on board for this new slate of movies that will be created and distributed in Barco Escape,” says Barco Escape Chief Creative Officer Ted Schilowitz.

“These films join our fast-growing slate of movies that will release in the new format, as filmmakers continue to explore the creative boundaries of the cinema experience through Barco Escape. We’re looking forward to bringing our exhibitor partners the kind of SciFi, action adventure, and suspense movies through Minds Eye that we believe are a perfect fit for Escape and will appeal to audiences worldwide.”

Currently trading at a market capitalization of $357.4M, BBGP has virtually no cash on the books, in a pool of total assets approaching $1.3M, which is balanced by de minimus total accumulated debt. The action in this stock has been nothing short of spectacular in terms of a signal that insiders are buyers rather than sellers. That said, a movie house is like a game dev studio. You’re only as good as your last cut, so to speak. So longer term trends can never be extrapolated from shorter-term dynamics. It’s important to keep that in mind. For continuing coverage on shares of $BBGP stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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